2
instead of combating the independent attitude of the province at the outset, or of insisting upon a reasonable offer if redemption of the Concession was forced upon the Syndicate, appeared in this as in similar difficulties to be delivering itself up to provincial dictation, Under these circumstances I did not feel called upon to urge the Syndicate to abate their reasonable demands, and considered that it was the duty of the Board to show greater activity in directing the province towards a settlement.
I have, &c.
(Signed) J. N. JORDAN.
427
[This Document is the Property of His Britannic Majesty's Government.]
CHINA RAILWAYS.
CONFIDENTIAL.
[1051]
No. 1.
[January 11.]
SECTION 1,
Sir J. Jordan to Sir Edward Grey.—(Received January 11, 1908.)
(No. 559. Very Confidential.) Sir,
Peking, November 27, 1907. WITH reference to my despatch No. 540 of the 14th November regarding Messrs. Pauling and Co.'s Preliminary Agreement for the construction of a railway from Hsin Min-fu to Fakumen, I have the honour to report that Lord ffrench, the representative of that firm, accompanied by Mr. Bland, representing the British and Chinese Corporation, proceeded to Mukden on the 18th November, and there drew up the draft of a Final Agreement in respect of this line.
This draft, copy of which I have the honour to inclose, has been approved by the Viceroy, Hsu Shih-ch'ang, and initialled by Tang Shao-yi, Governor of Fengtien.
Lord ffrench and Mr. Bland were promised by his Excellency Tang that steps would be taken without delay to procure the Imperial Decree, which is a necessary preliminary to signature, and they were given to understand that this could be expected in about six weeks. I have not so far discussed the matter with the Wai-wu Pu, nor have I been approached by any Chinese on the question, but, from what I hear, the Wai-wu Pu is somewhat alarmed by the possible opposition from Japan which such an Agreement may evoke, and is reluctant to fulfil their promise to the Manchurian high authorities to obtain the Imperial consent.
A copy of this despatch and its inclosure is being sent to His Majesty's Ambassador at Tôkið.
I have, &c. (Signed) J. N. JORDAN.
Inclosure in No. 1.
Loan Agreement for the Construction and Extension of the Imperial Railways of North China from Sin Min Ting to Fakumen.
AGREEMENT made between his Excellency Hsu Shih-ch'ang, Viceroy of Manchuria, and his Excellency Tang Shao-yi, Governor of Fengtien, acting under the authority of the Imperial Chinese Government, of the one part, and the British and Chinese Corporation (Limited) (hereinafter called the "Corporation") of the other part, for the issue and regulation of a loan for the construction and extension of the Imperial railways of North China from Sin Ming Ting, their present northern terminus, to Fakumen, a point about 50 miles to the north-east (hereinafter known as the "extension").
ARTICLE 1. The Corporation shall issue, on behalf of the Imperial Chinese Government, a sterling loan of 500,000l. (hereinafter referred to as the "loan") on the terms and conditions as hereinafter contained. The loan shall be known as "The Imperial Railways of North China Loan of 1907;" it shall be in one issue, and its price to the Imperial Chinese Government shall be the actual price at which it is issued to the public, less a flotation charge of 5¼ points retainable by the Corporation, that is to say, a charge of 5l. 10s. for every 100l. bond issued.
The interest on the bonds shall be at the rate of 5 per cent. per annum on the nominal principal, calculated from the date on which the loan is issued to the public, and shall be paid by the Railway Administration to the Hong Kong and Shanghae Banking Corporation for account of the bondholders, in half-yearly instalments, according to the amounts specified in the Schedule attached to this Agreement, and fourteen days before their due dates, Western Calendar, as calculated from the date of issue of the loan.
Art. 2. The loan shall be issued to the public as soon as practicable after the signing of this Agreement, and not later than twelve months after the signature thereof,
[28157-1]
2
instead of combating the independent attitude of the province at the outset, or of insisting upon a reasonable offer if redemption of the Concession was forced upon the Syndicate, appeared in this as in similar difficulties to be delivering itself up to pro- vincial dictation, Under these circumstances I did not feel called upon to urge the Syndicate to abate their reasonable demands, and considered that it was the duty of the Board to show greater activity in directing the province towards a settlement.
I have, &c.
(Signed) J. N. JORDAN.
427
[This Document is the Property of His Britannic Majesty's Government.]
CHINA RAILWAYS.
CONFIDENTIAL.
[1051]
No. 1.
[January 11.]
SECTION, 1,
Sir J. Jordan to Sir Edward Grey,-{Received January 11, 1908.)
(No. 559. Very Confidential.) Sir,
Peking, November 27, 1907. WITH reference to my despatch No, 540 of the 14th November regarding Messrs. Pauling and Co.'s Preliminary Agreement for the construction of a railway from Hsin Min-fu to Fakumen, I have the honour to report that Lord ffrench, the repre- sentative of that firm, accompanied by Mr. Bland, representing the British and Chinese Corporation, proceeded to Mukden on the 18th November, and there drew up the draft of a Final Agreement in respect of this line.
This draft, copy of which I have the honour to inclose, has been approved by the Viceroy, Hsu Shih-ch'ang, and initialled by Tang Shao-yi, Governor of Fengtien.
Lord ffrench and Mr. Bland were promised by his Excellency Tang that steps would be taken without delay to procure the Imperial Decree, which is a necessary preliminary to signature, and they were given to understand that this could be expected in about six weeks. I have not so far discussed the matter with the Wai-wu Pu, nor have I been approached by any Chinese on the question, bot, from what I hear, the Wai-wu Pu is somewhat alarmed by the possible opposition from Japan which such an Agreement may evoke, and is reluctant to fulfil their promise to the Manchurian high authorities to obtain the Imperial consent.
A copy of this despatch and its inclosure is being sent to His Majesty's Ambassador
at Tôkið.
I have, &c. (Signed) J. N. JORDAN.
Inclosure in No. 1.
Loan Agreement for the Construction and Extension of the Imperial Railways of North China from Sin Min Ting to Fakumen.
AGREEMENT made between his Excellency Hsu Shih-ch'ang, Viceroy of Manchuria, and his Excellency Tang Shao-yi, Governor of Fengtien, acting under the authority of the Imperial Chinese Government, of the one part, and the British and Chinese Corporation (Limited) (hereinafter called the "Corporation ") of the other part, for the issue and regulation of a loan for the construction and extension of the Imperial railways of North China from Sin Ming Ting, their present northern terminus, to Fakumen, a point about 50 miles to the north-east (hereinafter known as the "extension ").
ARTICLE 1. The Corporation shall issue, on behalf of the Imperial Chinese Government, a sterling loan of 500,0001. (hereinafter referred to as the "loan") on the terms and conditions as hereinafter contained. The loan shall be known as "The Imperial Railways of North China Loan of 1907;" it shall be in one issue, and its price to the Imperial Chinese Government shall be the actual price at which it is issued to the public, less a flotation charge of 54 points retainable by the Corporation, that is to say, a charge of 51 10s. for every 1007, bond issued.
The interest on the bonds shall be at the rate of 5 per cent. per annum on the nominal principal, calculated from the date on which the loan is issued to the public, and shall be paid by the Railway Administration to the Hong Kong and Shanghae Banking Corporation for account of the bondholders, infhalt-yearly instalments, according to the amounts specified in the Schedule attached to this Agreement, and fourteen days before their due dates, Western Calendar, as calculated from the date of issue of the loan.
Art. 2. The loan shall be issued to the public as soon as practicable after the signing of this Agreement, and not later than twelve months after the signature thereof,
[28157-1]
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